Roanoke Asset Management Corp NY Raises Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Roanoke Asset Management Corp NY boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) by 1.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,190 shares of the business services provider’s stock after purchasing an additional 50 shares during the quarter. Roanoke Asset Management Corp NY’s holdings in Automatic Data Processing were worth $976,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. OFI Invest Asset Management bought a new position in shares of Automatic Data Processing in the 3rd quarter worth $25,000. Fortitude Family Office LLC purchased a new position in Automatic Data Processing in the fourth quarter worth $35,000. Evolution Advisers Inc. bought a new position in Automatic Data Processing in the fourth quarter valued at $41,000. Raleigh Capital Management Inc. raised its position in Automatic Data Processing by 106.0% during the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 89 shares in the last quarter. Finally, Bfsg LLC bought a new stake in Automatic Data Processing during the fourth quarter worth about $42,000. 80.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP Sreenivasa Kutam sold 368 shares of Automatic Data Processing stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the sale, the vice president now directly owns 20,319 shares in the company, valued at $5,018,996.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $247.01, for a total transaction of $90,899.68. Following the sale, the vice president now owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Joseph Desilva sold 1,904 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total transaction of $485,520.00. Following the transaction, the vice president now directly owns 17,179 shares of the company’s stock, valued at approximately $4,380,645. The disclosure for this sale can be found here. Insiders sold a total of 2,966 shares of company stock valued at $749,524 over the last three months. Corporate insiders own 0.26% of the company’s stock.

Automatic Data Processing Trading Up 0.9 %

NASDAQ:ADP traded up $2.27 during mid-day trading on Friday, reaching $252.33. 1,291,521 shares of the company’s stock traded hands, compared to its average volume of 1,377,850. The firm has a market capitalization of $103.28 billion, a price-to-earnings ratio of 28.16, a PEG ratio of 2.38 and a beta of 0.78. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $256.84. The company has a 50 day moving average price of $245.37 and a 200-day moving average price of $239.99. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.09. The company had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.22 billion. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.52 earnings per share. On average, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.16 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. reduced their price objective on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research report on Thursday, May 2nd. TD Cowen decreased their price target on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research note on Thursday, May 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a research note on Thursday, February 1st. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, Evercore ISI boosted their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 26th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Automatic Data Processing has an average rating of “Hold” and an average price target of $255.42.

Get Our Latest Stock Analysis on Automatic Data Processing

Automatic Data Processing Company Profile

(Free Report)

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.

See Also

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADPFree Report).

Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.